Profile picture for pebbles0

Foreclosures

How do you buy and get information on a foreclosure?
  • February 15 2011 - Boulder
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Answers (6)

Profile picture for pebbles0
David,
Good point....I am selling a house in the Mountains outside of Boulder, which I had to price 125K under appraisal value and need to move closer to work and get into a better school. I will more then likely never be able to sell my house and will need to rent and buy a second home leaving me in tremendous risk. When I look in Boulder County for a house I find over priced fixer uppers or people with an overpriced house trying to make 80K in a bad market, either way this leaves me with little choices. I want to find a fairly priced house and it seems the only way to do this is to find a really good deal on a foreclosure but agents push you in the direction they see, which is a quick easy sale.
  • February 16 2011
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It is inherently self serving for RE agents to tell you to contact one of them/us to pursue foreclosed properties, but it actually the best advice for most people.  In most cases in Colorado, the banks will buy the property at foreclosure to protect as much of the loan they have on it as they possibly can.  They will then almost without exception get the property listed in the MLS as quickly as they can in order to maximize the $$ they can get on a sale.  With FHA foreclosures...with are HUD properties...you are required to have an agent to make a bid.  With most other bank sales, they'd prefer that you have an agent.  I don't think you'd save any $$ by making an offer on a listed bank sale on your own.  Others?
  • February 15 2011
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Profile picture for Dunes....
Let's just make it Easy..

For those interested...
The Government and the Banks have created websites for the public to use for FREE, to have current updated information about the Properties/Foreclosures/REO's available and information about the Process they use, available programs ect..

For the Government a person can use the Site they provide which provides links to all the Sites they have.... Homes for Sale
Sites like...Hud...Fannie Mae ect....

The Banks have also created sites like...Bank of America...Wells Fargo

Here are links to a few sites that provide the links to the Bank Sites
Link...Link...Link

I would also suggest checking out this site for finding Tax Sales, public Records....Free Public Records Directory
  • February 15 2011
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ditto Michael Emery
  • February 15 2011
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If you're looking to buy a foreclosure, contact a real estate agent in your area.

With their access to the local MLS, they can set up specific searches to pinpoint a property that will meet your needs. They can then auto email those properties to you.

When you see a foreclosed property on Zillow, the information is often incomplete and outdated as most foreclosure listings are placed on the site by foreclosure.com. They make their income selling information which is available for free.

If you would prefer to not work with an agent right away, here's a link that will help you find a multitude of foreclosed homes. Go down to the postings from Dunes the Exiled for links.

http://www.zillow.com/adv ... x/386102/
  • February 15 2011
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Profile picture for David Widlund
If you could go into a more detailed explanation of your situation and exactly what you want to accomplish, you may find many more answers on this topic. The question you asked is far too broad and could require a small novel to answer it properly.
  • February 15 2011
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